London Daily

Focus on the big picture.
Sunday, Oct 04, 2026

JD Sports chairman rejects criticism of £4.3m bonus

JD Sports chairman rejects criticism of £4.3m bonus

The chairman of JD Sports has rejected criticism of a large bonus he received after the retailer benefited from millions of pounds in Covid support.

JD Sports executive chairman Peter Cowgill

Peter Cowgill told the BBC that the "lion's share" of the £4.3m bonus related to work done pre-January 2019.

He also rejected suggestions the firm should repay furlough money.

Shareholder advisory group Glass Lewis has urged investors in the sportswear chain to vote against what it calls an "inappropriate" pay policy.

Shareholders will get a chance to vote at JD Sports' annual general meeting on 1 July, although this would not be binding.

Mr Cowgill told the BBC's World at One programme that the pay boost in 2020 resulted from a long-term incentive share plan (Ltip), and that he had received only one payout from the scheme in the past eight years.

"Over that period the [firm's] profits went from £82m to £420m," he added.

Mr Cowgill said the firm had correctly used the furlough scheme to support jobs, and should not volunteer to pay it back as rivals Primark and Asos have done.

He said Primark was part of a larger firm, AB Foods, whose profits benefited from strong sales of food last year, while Asos was a pure online player which did not have the same overheads.

Mr Cowgill said it was possible investors might vote against his pay package, but added: "Why would you when the company has progressed, it's provided increasing levels of employment throughout?

"It's expanded internationally, it's created continued growth."

As a non-essential retailer, JD Sports' shops were closed for long periods during the pandemic and the firm received £61m through the UK furlough scheme and an estimated £38m in business rates relief.

It has also benefitted from an additional £25m in wage support from other countries where it operates. JD Sports was also provisionally granted an emergency £300m loan from the Bank of England, although the company points out that it was, in the end, not needed and never accessed.

At the same time, the chain saw its revenues rise in 0.9% last year to £6.1bn as its sales shifted online, although its pre-tax profits fell 7%.

Mr Cowgill's bonus was agreed in January 2019 and several instalments were deferred due to the pandemic, then subsequently paid.

Taking this into account, he said his bonus last year was actually £1.3m - down 75% on the previous year.

Newsletter

Related Articles

0:00
0:00
Close
UK Police Release Six Iranian Nationals on Bail After RAF Fairford Security Alert
UK Business Confidence Falls as Energy Costs and Tax Uncertainty Rise
Cornwall Insight Warns UK Energy Bills Could Rise 16% in January
UK Introduces Zero VAT on Household Electricity Bills
UK 30-Year Gilt Yield Hits 6% as Bond Market Pressures Intensify
UK Introduces Stricter Subcontractor Checks and Expanded Trade Union Access
Green Party Proposes Three-Year Emergency Freeze on Private Rent Increases
UK Treasury Committee Seeks Tax Clarification Over Manchester City Investigation
Royal Marines Deploy to Faroe Islands for Northern European Security Exercise
UK Business Confidence Weakens as High Costs Delay Investment
UK GDP Growth Revised Up to 0.5% in Second Quarter
Bank of England Warns of Financial Stability Risks From Autonomous AI
UK Expands Early Prisoner Release Scheme to Ease Overcrowding
UK Records Worst Bluetongue Outbreak on Record Across Livestock Farms
UK Government Faces Shrinking Fiscal Headroom Ahead of October 28 Budget
UK 30-Year Gilt Yield Reaches 6% as Energy Shock Drives Borrowing Costs Higher
Church of England to Apologize for Role in Historical Forced Adoptions
UK Defence Ministry Investigates Historical Use of RAF Bases by Jeffrey Epstein
Scottish Housing Completions Fall to 11-Year Low
Welsh First Minister Calls for Expanded Devolution Settlement
UK Pledges £50 Million to Expand Domestic Military Drone Capabilities
UK Opens First Commercial Geothermal Plant in Cornwall
Green Party Wins Gorton and Denton By-Election as Labour Falls to Third
Prime Minister Andy Burnham Opens Review of UK-EU Relationship
UK Inflation Rises to 3.1%, Adding Pressure on Household Finances
UK Removes VAT From Domestic Electricity Bills to Ease Winter Energy Costs
Counterterrorism Police Arrest Sixth Suspect Over RAF Fairford Incident
UK Councils to Receive Sweeping Planning Powers to Ban New Vape and Betting Shops
Chancellor John Healey Faces Tax and Pension Scrutiny Ahead of Autumn Budget
Metropolitan Police Apologise for Accidental Disclosure in High-Profile Investigation
UK Universities Report Record International Enrolment as Housing Pressure Grows
UK Logistics Firms Monitor Rhine Disruption as Low Water Threatens European Supply Chains
UK Food Industry Warns Inflation Could Approach 7%
UK Introduces Vaping Duty and Mandatory Retail Stamps
Scotland Raises Property Taxes and Expands Child Payment in Annual Budget
Greggs Plans Four Factory Closures With 740 Jobs at Risk
OECD Raises UK 2026 Growth Forecast to 1.1%
UK Inflation Rises to 3.1% as Bank of England Faces Rate Debate
Andy Burnham Criticises Brexit and Says Rejoining EU Single Market Remains an Option
UK Imposes New Sanctions on Russian Military Networks and Propagandists
UK Launches Nationwide Early-Release Prison Scheme
Andy Burnham Says Security Services See Signs of Iranian Involvement in RAF Fairford Incident
Manchester City Found Guilty on Premier League Financial Charges After Independent Investigation
Scottish Court to Rule on Bid to Force No-Confidence Vote Against Aberdeen Council Co-Leader
UK Bans Extra Charges for Seating Children Under 12 Beside Accompanying Adults
UK Introduces Vaping Duty and New Licensing Requirements
Greggs to Close Four UK Factories and Cut 740 Jobs
Hundreds of Prisoners Released Early as England and Wales Prisons Reach 98% Capacity
UK Unveils New Russia Sanctions Targeting War Funding and Shadow Fleet
Burnham Says There Are Strong Indications of Iranian Involvement in RAF Fairford Security Breach
×